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Spain Jobless Total 'could Pass 5M', Says Labour Minister Valeriano Gomez

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http://www.telegraph.co.uk/finance/jobs/8455863/Spain-jobless-total-could-pass-5m-says-labour-minister-Valeriano-Gomez.html

The number of unemployed in Spain, which has the highest jobless rate among developed countries, could reach a record of more than 5m, the labour minister has warned.

"Whether or not we exceed 5m unemployed will depend on the active population," Valeriano Gomez told the business daily el Economista, referring to a possible rise in the working-age population.

"It must be said that in Spain during the crisis, the workforce has been very erratic."

Spain's booming construction industry drew millions of unskilled immigrant workers and generated high levels of economic growth in the decade to 2008.

But the collapse of the property bubble, compounded by the global financial crisis, left many people out of work, especially immigrants and youths.

At least if it does we can all rest assured Spain doesn't need a bailout, fiscally it has no problems and unemployment is merely a temporary blip.

Still if they can class people as being inactive they might be able to fudge the figures.

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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